All Department for Work and Pensions (DWP) articles – Page 4
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NewsTPR ‘dials down leverage’ in DB funding code fast-track
The Pensions Regulator has lowered the amount of leverage that it deems acceptable for schemes to have to meet the requirements for a “fast-track” valuation, as part of its new defined benefit funding code.
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NewsPPF confirms levy reduction and methodology changes
Defined benefit schemes will see the levy paid to the Pension Protection Fund reduced by £420mn in two years, as the lifeboat fund confirms tweaks to its methodology and further work to make legislative changes.
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NewsDWP details conditions for schemes to defer dashboards deadline
Pension funds will only be allowed to defer their dashboards staging deadline if they are transferring data to a new administrator or are in the process of retendering their scheme administration, new guidance has revealed.
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NewsPHSO finds ‘maladministration’ in DWP’s complaint handling
On the go: The Parliamentary and Health Service Ombudsman has found evidence of “maladministration” in the Department for Work and Pensions’ communication about changes in women’s state pension and in its complaints handling.
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NewsRules to remove DC charge cap fees due in the new year
The government will lay regulations to remove fees from the defined contribution charge cap early next year, one of a number of pensions-related proposals included in the reforms aimed at improving the competitiveness of the UK’s financial services sector.
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NewsLabour MPs table amendment to preserve EU PPF protections
Labour MPs have tabled an amendment to a bill aimed at revoking residual EU law, seeking to retain judgments linked to the Pension Protection Fund.
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NewsTiming and flexibility concerns raised over LGPS climate reporting
The pensions industry has expressed its concerns to the government over proposals surrounding new requirements for Local Government Pension Scheme funds to produce climate risk reports, citing fears over the timescale imposed and a lack of flexibility.
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NewsState pension age review to be published next year
On the go: The state pension age review will be published in early 2023, the chancellor has said.
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NewsHunt declines to commit to state pension inflation uprating
On the go: Chancellor of the exchequer Jeremy Hunt has told the chair of the work and pensions select committee that “there are difficult decisions to be made” in response to a request that social security benefits and state pensions be uprated in April 2023 in line with the consumer price index inflation rate recorded in September 2022.
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NewsContributions surge 40% during decade of auto-enrolment
On the go: Total annual contributions to workplace pensions rose to £114.6bn in 2021, marking a 40 per cent rise since the advent of auto-enrolment in 2012.
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FeaturesHow might DC investment reforms accelerate the push for net zero?
By Stephanie Baxter | November 8, 2022
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NewsTrott appointed pensions minister
On the go: Laura Trott has been selected as the new pensions minister, succeeding Alex Burghart.
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OpinionHow to apply for dashboards staging deadline deferral
Sackers associate director Oliver Topping details six tips for schemes considering a pension dashboards staging deadline deferral.
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NewsOpperman returns to DWP as minister of state
On the go: Guy Opperman has been appointed as a minister of state at the Department for Work and Pensions, a little over a month after being let go as pensions minister.
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NewsPension dashboards near live testing stage
On the go: The Pensions Dashboards Programme has moved into the testing of digital architecture phase, with more than 20 organisations taking part as early participants, programme principal Chris Curry has said.
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NewsSwitching providers too difficult for employers, DWP finds
Companies rarely switch pension providers as the process is too onerous, the Department for Work and Pensions has discovered.
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NewsMel Stride appointed work and pensions secretary
On the go: Prime minister Rishi Sunak has appointed Mel Stride as the new secretary of state for work and pensions.
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NewsNo sign of ‘notable uptick’ in AE opt-outs despite cost of living crisis
There has been no significant rise in employees choosing to stop contributions to workplace pension schemes so far this year, despite warnings that the cost of living crisis would derail the progress of auto-enrolment.
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NewsFCA proposes rules to stamp out greenwashing
The Financial Conduct Authority is looking to introduce a package of measures aimed at clamping down on greenwashing, while looking to expand the regime for pension products in the future.
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NewsDWP concedes to industry demands on dashboards lead time
The Department for Work and Pensions has recognised its proposed 90 days pensions dashboards lead time “creates challenges” for schemes and administrators, and will now give providers a six-month notice before the project goes live.